Description of Barts Square

The site covers 2.3 acres and comprises ca 230,000 sq ft of office space and 215 high quality residential apartments in 17 buildings with retail space on the ground floor.

The development is just a minute from the future Farringdon Crossrail station.

In joint venture with The Baupost Group LLC (Baupost 66.7%, Helical 33.3%), Helical Bar owns the freehold interest in land and buildings at Bartholomew Close, Little Britain and Montague Street, a 3.2 acre site adjacent to the new Barts Hospital and just south of Smithfield Market. Existing buildings are let to the NHS on a number of short-term leases that expire in 2016.

Planning consent was implemented for a comprehensive redevelopment of 19 buildings to provide a total of 236 residential apartments, three office buildings of 211,000 sq ft, 23,485 sq ft and 10,200 sq ft, 16,300 sq ft of retail /A3 at ground floor as well as major public realm improvements, which will be incorporated into the wider Smithfield Area Strategy being worked up by the City of London.

Phase One - Residential/offices/retail

Phase One of the redevelopment of Barts Square comprises 144 residential units, 10,200 sq ft of retail space, 23,485 sq ft of new offices behind retained facades and public realm improvements. The demolition of buildings in Bartholomew Close and Little Britain commenced in January 2015, with the retention of various facades behind which the buildings are being demolished. Completion of Phase One is expected in summer 2017. By November 2015 93 residential units were sold for a total sales value of c. £125m at an average £1,579 psf.

Phase Two - One Bartholomew Close, London EC1 - Offices

One Bartholomew Close was sold to clients of Ashby Capital LLP (“Ashby”) for £102.4m in August 2015, releasing £34m ofcash to Helical. Demolition of the existing building and the construction of a new 12 storey office block of c. 211,000 sq ft, to be called One Bartholomew Close, has just commenced. The building is due to be completed in July 2018. Ashby's clients will finance the development costs and when the building is completed the joint venture will be entitled to receive a profit share payment upon the successful letting of the building. Helical Bar will remain as development manager for delivery of the project.

Phase Three - Residential/retail

Phase Three of the redevelopment of the site, involving the demolition of Queen Elizabeth II House, 62 Bartholomew Close, 42-44 Little Britain and 45-47 Little Britain, is expected to commence after vacant possession of these buildings is
obtained in November 2016. In their place, 92 residential units and 10,700 sq ft of retail space will be constructed.

The old buildings comprised 420,000 sq ft let to the NHS at circa £3.5m per annum on a number of short term leases that expire between 2014 and 2016.

In November 2012, a resolution to grant planning permission was obtained and planning consent has now been issued following signature of the S106 Agreement. The scheme will bring much needed regeneration to this area of the City and will retain some of the existing buildings and complement them with a sympathetic redevelopment of the site.

Significant public realm improvements are planned, which will be incorporated into the wider Smithfield Area Strategy being worked up by the City.

Prices in October 2015 started from £815,000.

Register your interest at www.bartssquare.com.

Sources:
- Helical Bar www.helical.co.uk

Connected Companies

News & Comments: (16)

Buildington

2018/09/26 19:47

Of the first phase of 144 residential units at Barts Square, Helical has completed on the sales of 120 units and exchanged contracts on a further 14 units for a combined gross sales value of £171.9m at an average of £1,558 psf. Delivery of the final units is due in October 2018;

The second phase of residential, comprising 92 units, was launched in March 2018 and since then contracts on 28 units have been exchanged for a gross sales value of £45.2m at an average of £1,819 psf. Handover of these units will be phased over the period Q4 2019 to Q1 2020.

The construction of One Bartholomew, a new 12 storey building of 214,033 sq ft, pre-sold to clients of Ashby Capital LLP, continues with completion due in November 2018. The building is currently 25% pre-let following the letting during the Period of the top three floors, comprising 54,482 sq ft, to the Trade Desk Inc.

At 90 Bartholomew Close, a 24,013 sq ft office development, with 6,414 sq ft of restaurant space, Helical has agreed terms for a letting of the fifth floor, whilst the ground and lower ground restaurant space was let during the Period to Wright & Bell, a restaurant operator.

Source: Helical Bar Portfolio and Trading Update for 1 April 2018 to 25 September 2018.

Buildington

2018/07/13 10:35

Helical has completed the sale of 92 residential units out of 144 and exchanged contracts on a further 42 units for a combined gross sales value of £171.9m at an average of £1,558 psf.

The delivery of the final units is due by August 2018;

Construction of the second phase of 92 residential units is due to complete in phases Q4 2019 to Q1 2020 and, since its launch in March this year, they have exchanged on 23 units and have a further five units under offer for a combined gross sales value of £45.2m at an average of £1,819 psf;

At 90 Bartholomew Close, an office refurbishment of 24,000 sq ft with additional retail/restaurant space, we have let the 6,414 sq ft of ground and lower ground floor space to Wright & Bell for a restaurant and bar; and The construction of One Bartholomew, a new 12 storey office building of c. 214,000 sq ft pre-sold to clients of Ashby Capital LLP, continues with completion due in October 2018. Helical has pre-let the top three floors of this new development, comprising 54,261 sq ft, to The Trade Desk, the global advertising technology company.

Source: Helical plc. trading update for the period 1 April 2018 to 11 July 2018 helical.co.uk

Buildington

2018/06/19 11:53

Helical has let the ground and lower ground floors (6,300 sq ft) of 90 Bartholomew Close to Wright and Bell, for a vibrant, all-day British restaurant and bar.

The former linoleum and carpet warehouse and showroom at 90 Bartholomew Close has been transformed by Helical, including the delivery of two additional floors, to create 24,000 sq ft of office space on floors one to six.

Wright and Bell, part of specialist leisure group, Imbiba, currently operate Kitty Hawk in the City of London and these second premises will deliver another distinctive destination, featuring Richard Falk, formerly of The Dairy and The Ledbury, as executive chef. Richard will be crafting a seasonal menu, inspired by locally sourced British produce and comprehensive use of eclectic ingredients. The new restaurant is set to open in November 2018 before which the full concept and name will be launched.

This is the second letting by Helical in a month to a brand of Imbiba, having recently signed up Albion & East at The Bower at Old Street.

Nikki Dibley, Development Executive at Helical, said: “Our aim from the outset was to secure a quintessentially British, high-quality, all-day operator for these stunning premises so this agreement with Wright and Bell is the perfect fit. Knowing the area as intimately as we do, we believe the restaurant and bar will be a great amenity for the wide-ranging Barts Square community, the local catchment as well as visitors to the area.”

Buildington

2018/04/04 16:33

Following the demise of Carillion, QOB Interiors has been appointed to manage the completion of the project at 90 Bartholomew Close.

90 Bartholomew Close will be the venue for key launch events for the whole Bart’s Square scheme. It was originally a linoleum and carpet warehouse and has now been transformed into 24,500 sq ft of Cat A office space over 6 floors with 5,700 sq ft of retail space at ground and basement level.

Works are expected to complete in April 2018.

Source: QOB Interiors qobinteriors.com

Buildington

2018/03/29 14:27

Helical has completed on the sales of 71 residential units (£86m) at Barts Square, with 59 further sales exchanged (£80m) and one additional unit under offer on the first phase of 144 units.

The sales in this phase total £166m at an average of £1,557 psf. Delivery of the remaining units is now expected in the period April to June 2018.

The second phase of residential, comprising 92 units, was launched on the 8 March 2018 and since then 22 units have been reserved for an aggregate £30.1m (£1,782 psf). This phase is due for completion by October 2019.

One Bartholomew Close, a new 12 storey office building of c. 213,000 sq ft, pre-sold to clients of Ashby Capital LLP, is due for completion by Q4 2018.

At 90 Bartholomew Close, our 24,000 sq ft office development, with 4,000 sq ft of ground floor restaurant space, was launched to the market on the 7 March 2018, and has generated a significant level of interest from potential tenants.

The main contractor at Barts Square, Carillion, which went into liquidation on the 15 January 2018, has been replaced by Mace (One Bartholomew Close), McLaren (phase 1 residential) and QOB (90 Bartholomew Close) and each element of the scheme is back fully operational. A main contractor for the second phase of residential is expected to be appointed in Q2 2018. Whilst there has been some delay to the project arising out of the replacement of Carillion, the majority of additional costs are expected to be covered by existing contingencies.

Source: Helical plc today presents a summary of its portfolio and a trading update covering its activities for the period 1 October 2017 to 28 March 2018 helical.co.uk

Buildington

2018/03/02 09:34

Exclusive launch of the final residential phase of Barts Square takes place 8th of March 2018!

Prices starting from £770,000.

Register your attendance with Savills.

Buildington

2017/11/15 08:12

Barts Square update -

Phase One - Residential
Phase 1 of Barts Square comprises 144 residential units, 3,193 sq ft of retail and extensive public realm improvements. The residential units are being handed over to purchasers as buildings are completed with the Underwood Building (13 sales) completed by October 2017 and six further buildings (115 sales) to be completed and handed over in the period to March 2018. In total, contracts have been exchanged for the sale of 128 residential units (12 in the period) for a total value of £162.1m at an average of £1,565 psf, with a further three units reserved, leaving just 13 apartments to sell.

90 Bartholomew Close - Offices
Construction of the 24,013 sq ft office building with 6,449 sq ft of restaurant use on the ground floor is expected to be completed in December 2017. Marketing of the offices will commence after practical completion of the building. The ground floor restaurant is under offer to a leading UK restauranteur who operates a small collection of restaurants, delis and bars.

Phase Two - One Bartholomew Close - Offices
One Bartholomew Close was sold to clients of Ashby Capital LLP ("Ashby") for £102.4m in August 2015. The demolition of the existing building and the construction of a new 12-storey office block of 213,125 sq ft commenced in January 2016 and is due to be completed in Q3 2018. Ashby's clients finance the development costs and, when the building is completed and successfully let, the joint venture will be entitled to receive a profit share payment. Helical is the development manager for delivery of the project.

Phase Three - Residential/retail/offices
Demolition work on Phase 3 of Barts Square is completed with pre-construction works now underway. This phase will comprise 92 apartments and 12,197 sq ft of retail space. Completion is due in Q3 2019 and marketing of the units is expected to commence in Q2 2018. The refurbishment of 54/58 Bartholomew Close to provide 10,200 sq ft of offices is expected to start in 2018 for completion in 2019.

Via Helical Plc Half Year Results for the Six Months to 30 September 2017 investis.com.

Buildington

2017/05/29 05:58

118 (82%) of the Phase One 144 residential units At Barts Square had exchanged by 24 May 2017 (31 March 2016: 102 units) at an average of £1,570 psf, with a further three reserved.

Source: Helical plc Annual Results for the Year to 31 March 2017 helical.co.uk 25.05.2017

Buildington

2017/03/25 09:21

Barts Square - Connected, Characterful Living in EC1!

Barts Square is a singular collection of residences for discerning tastes.

The first phase of this beautifully designed new quarter of London is nearing completion.

This is a rare opportunity to live somewhere distinctively different.

Prices from £790,000*.

Sales by Savills.

Visit bartssquare.com.

Via advert in Homes & Property homesandproperty.co.uk 22.03.2017

Buildington

2016/11/24 11:45

At Barts Square mixed-use scheme in joint venture with The Baupost Group LLC and Helical, 108 of the 144 residential units have been sold with a further two units reserved in Phase One of the development.

Phased completion of these units is expected to commence in Q2 2017.

Demolition of the existing buildings for the second phase of residential is due to commence in December 2016 for 92 additional units with completion expected in 2019. Terms have been agreed with HSBC for the financing of these works. The office development of 213,000 sq ft at One Bartholomew Close, forward funded by clients of Ashby Capital, is under
construction with completion due in August 2018.

Barts Square is a redevelopment of 19 buildings to provide a total of 236 residential apartments, three office buildings of 213,000 sq ft, 23,000 sq ft and 10,200 sq ft, 20,600 sq ft of retail/A3 at ground floor as well as major public realm improvements, which will be incorporated into the wider Smithfield Area Strategy being worked up by the City of London.

Phase 1 – Residential/offices/retail
Phase 1 of the redevelopment of Barts Square comprises 144 residential units, 8,800 sq ft of retail space, 23,000 sq ft of new offices behind retained facades and public realm improvements. Completion of Phase 1 is expected in summer 2017. Contracts have been exchanged for the sale of 108 residential units for a total value of c.£138.5m at an average
£1,580 psf, with a further two units under offer.

Phase 2 – One Bartholomew Close – Offices
One Bartholomew Close was sold to clients of Ashby Capital LLP for £102.4m in August 2015. The demolition of the existing building and the construction of a new 12 storey office block of 213,000 sq ft, commenced in January 2016. The building is due to be completed in August 2018. Ashby’s clients finance the development costs and when the building is completed and successfully let the joint venture will be entitled to receive a profit share payment. Helical is the development manager for delivery of the project.

Phase 3 – Residential/retail
Phase 3 of the redevelopment of the site, involving the demolition of Queen Elizabeth II Building, 62 Bartholomew Close, 42-44 Little Britain and 45-47 Little Britain, is expected
to commence after vacant possession of these buildings is obtained at the end of November 2016. In their place, 92 residential units and 11,800 sq ft of retail space will be constructed, with completion due in early 2019.

Source: Helical Half-Year Results for the six months to 30 September 2016 helical.co.uk 24th November 2016

Buildington

2016/09/27 16:39

Since the EU referendum, Helical has exchanged contracts on two residential units and placed a further unit under offer for a combined sales value of c. £4.0m at an average price of £1,547 psf, in line with sales values achieved for similar units.

Helical has now exchanged contracts on 106 residential units in the first phase of the development comprising 144 units, for a total sales value of £135.7m at an average of £1,581 psf.

Completion of the first phase is due on a rolling basis during H2 2017. Demolition of the buildings comprising the site for the remaining residential scheme of 92 units is due to start in November this year. Demolition of the site at One Bartholomew Close, a 213,000 sq ft office scheme funded by clients of Ashby Capital LLP, has completed and piling works for the new building are under way.

Source: Helical Interim Management Statement for the period 25th July 2016 to 26th September 2016

Buildington

2016/07/27 09:30

Helical has exchanged contracts on 104 residential units in the first phase of Barts Square development comprising 144 units, for a total sale value of £133.2m at an average of £1,581 psf, with delivery expected in Q3 2017.

A further unit has been placed under offer since the EU referendum, for £0.94m, at £1,724 psf;The demolition of the existing building continues in advance of constructing One Bartholomew Close, a new 12 storey office building of c. 213,000 sq ft, pre-sold to clients of Ashby Capital LLP.

The remaining phase of residential, comprising an additional 92 units, is due to commence in November 2016 for delivery in Q1 2019.

Source: Helical Bar Results for the period of 1 April 2016 to 24 July 2016.

Buildington

2015/11/27 09:56

Helical Bar has exchanged contracts on 93 of the 144 residential units in Phase One of Barts Square development, which commenced in January 2015 and is due for completion in summer 2017.

The second part of the residential element at Barts Square, a further 92 units, is expected to start in late 2016 for Q4 2018 delivery.

During the half year to 30 September 2015, the joint venture sold the office site at One Bartholomew Close for £102.4m to clients of Ashby Capital LLP who will fund the ongoing development, and the joint venture will receive a 50% share in profits upon the successful letting of the building.

Source: Helical Bar Half Year Results for the Six Months to 30 September 2015

Buildington

2014/11/28 13:51

Helical Bar has exchanged contracts on 45 of the 88 residential units at Barts Square released in September, from Phase 1 of the development, which is due to commence in January 2015 and complete in Q2 2017.

Source: Helical Bar Plc Half Year Results For the Six Months to 30 September 2014 www.helical.co.uk

For more information please see Savills microsite at http://showcase.savills.com.hk/bartssquare/

Buildington

2014/10/09 20:51

The marketing suite is now open at 56 West Smithfield EC1A 9DS. To visit please contact Savills (details here www.bartssquare.com).

1-,2- and 3-bedroom apartments and penthouses with prices starting from £775,000.

Via Homes & Property, Evening Standard 8. October 2014.

*DISCLAIMER! Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.

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